Slide 1: Full Year Results Presentation cover letter
= SERVCORP 28 August 2012 The Manager Company Announcements Office Australian Securities Exchange By electronic lodgement Dear Sir Servcorp Limited (SRV) Full Year Results Presentation Enclosed is a copy of the 2012 Full Year Results briefing presented at Servcorp’s results presentation held at Leve
Slide 2: Analyst Presentation, Year ended 30 June 2012
For personal use only Servcorp Limited Analyst Presentation Year ended 30 June, 2012 A.G. Moufarrige, Chief Executive Officer Tuesday 28 August, 2012 Marcus Moufarrige, Chief Operating Officer
Slide 3: Operational Highlights FY 2012
Operational Highlights FY 2012 For personal use only Revenue of $200,785,000, up 10% on FY 2011 Mature NPBT up 20% to $37,307,000, in line with guidance NPBT of $18,329,000, 7% above guidance Operating cash flow up 70% to $32,003,000 Unencumbered cash balances of $95,765,000 NTA backing
Slide 4: Operational Highlights: Number of Floors
Operational Highlights FY 2012 For personal use only Total Floors at 30 June 2012 = 124 30 27 25 22 20 21 Number of Floors 18 15 12 12 10 9 5 3 0 Australia & New Japan Southeast Asia Middle East India Greater China Europe USA Zealand (Franchise) 2
Slide 5: Financial Results
Financial Results FY 2012 For personal use only FY 2012 FY 2011 Constant % $AUD 000's $AUD 000's Currency % Total revenue 200,785 182,056 10% 12% Mature floor net profit before tax 37,307 31,019 20% Immature floor loss (18,978) (27,983) (32%) Total net profit before tax 18,329 3,036 504% 503% Tax (3
Slide 6: Financial Results
Financial Results FY 2012 For personal use only As at As at 30 June 2012 30 June 2011 % $AUD 000's $AUD 000's Cash balances 104,334 99,993 4% Cash balance (unencumbered) 95,765 91,269 5% Total Net Assets 198,709 192,612 3% Net Tangible Assets (per share) $1.87 $1.81 3% FY 2012 FY 2011 % Earnings per
Slide 7: Mature Business
Mature Business FY 2012 For personal use only FY 2012 was a challenging year: o economically o commercially; and o from a trading point of view Competition in many markets continues to be aggressive We are encouraged by o Revenue growth of 10% o Mature profit growth of 20% Revenue and profit
Slide 8: Immature Business
Immature Business FY 2012 For personal use only Immature floor revenue continues to increase modestly each month We are satisfied with the progress of immature floors, except in the USA; Challenges experienced caused an initial lag in revenue growth Revenue lag has impacted the rate of matur
Slide 9: Immature Floors by Region
Immature Business FY 2012 For personal use only Immature Floors by Region at 30 June 2012 = 45 20 19 15 Number of Floors 10 8 8 5 4 2 2 2 0 Australia & New Japan Southeast Asia Middle East Greater China Europe USA Zealand 7
Slide 10: Global Expansion Update
Global Expansion Update For personal use only FY 2011 was Servcorp’s biggest expansion year ever, opened 40 floors Slowed expansion in FY 2012, opening 9 floors 62 new floors opened in the 36 months to 30 June 2012 Anticipate opening approximately 11 floors in FY 2013 8
Slide 11: Total Floor Openings
Global Expansion Update For personal use only Total Floor Openings 48 months ending 30 June 2013 25 22 1 Number of Floors Opened During Expansion 20 17 ■ Forecast FY 2013 = 11 15 5 ■ FY 2012 = 9 12 ■ FY 2011 = 40 2 19 ■ FY 2010 = 13 10 3 9 Total Expansion = 73 1 2 6 7 4 5 3 4 7 1 3 1 4 2 3 3 2 2 1 0
Slide 12: Operating Summary: Australia & New Zealand
Operating Summary by Region FY 2012 For personal use only Australia & New Zealand Mature floors Performance of Australia & New Zealand consistent with FY 2011 Sydney and Melbourne continue to experience soft demand Perth and Brisbane continue to perform strongly Margins improved across New Z
Slide 13: Operating Summary: Japan
Operating Summary by Region FY 2012 For personal use only Japan Mature floors Business confidence impacted by the earthquake in late FY 2011 Levels of competition have increased, directly impacting pricing and margins We are satisfied with the operating results in this market Result includes
Slide 14: Operating Summary: Greater China
Operating Summary by Region FY 2012 For personal use only Greater China Mature floors Growth momentum in China in FY 2011 has continued into FY 2012 Increased pricing by Servcorp has led to an increase in margins Closed 1 floor during FY 2012 Immature floors 4 floors were opened in: o Shangh
Slide 15: Operating Summary: Southeast Asia
Operating Summary by Region FY 2012 For personal use only Southeast Asia Mature floors All markets in Southeast Asia performed strongly Revenue and margins increased across the entire region Immature floors 1 floor opened in Bangkok 2 floors immature at 30 June 2012 13
Slide 16: Operating Summary: Middle East
Operating Summary by Region FY 2012 For personal use only Middle East Mature floors Results in the Middle East continue to improve Locations in UAE and Qatar continue to produce solid results A floor in Jeddah became mature during FY 2012 Bahrain continues to be difficult, but Servcorp is br
Slide 17: Operating Summary: Europe
Operating Summary by Region FY 2012 For personal use only Europe Mature floors Margins in both London and Brussels improved in FY 2012 The Serviced Office market in Paris continues to be soft 1 floor in London became mature Immature floors No new floors opened in Europe 2 floors immature a
Slide 18: Operating Summary: USA
Operating Summary by Region FY 2012 For personal use only USA Mature floors 2 floors became mature in this region during FY 2012 Immature floors Lag in revenue growth has impacted the maturity profile of floors Immature floors as a group will not mature until 1 July 2013 Revenue in the USA,
Slide 19: Buyback
Buyback Servcorp announced today an on-market buy-back; For personal use only o effective 11 September, 2012 o to buy up to 5.0 million ordinary shares o for a maximum period of 12 months The Directors have decided to implement this buy-back; o to utilise surplus cash; and o to improve EPS for s
Slide 20: Dividend
Dividend FY 2012 For personal use only Final dividend payable of 7.5 cents per share, 85% franked Total dividends in relation to FY 2012 of 15.0 cents per share, 67.5% franked Dividend FY 2013 Forecast Dividends of 15.0 cents per share, fully franked are expected to be paid for FY 2013 This pa
Slide 21: Outlook FY 2013
Outlook FY 2013 For personal use only Global markets continue to be volatile and uncertain We remain optimistic for the outlook of Servcorp We will continue to grow the Servcorp footprint in established locations Expect NPBT to increase to approximately $27.00M in FY 2013, an increase of app